Feb. 21, 2019
Zix Corp., a Dallas-based email security firm, said it closed on its $275 million acquisition of AppRiver, a provider of cloud-based security, according to a company release.
Zix is used by healthcare, finance and government for email encryption, data loss prevention and bring your own device mobile security.
"Today is a significant day for Zix and AppRiver employees, customers, partners and shareholders, as we complete the acquisition of AppRiver and create one of the leading email and security solution providers, particularly for the small and mid-sized business market," Zix CEO David Wagner said in the announcement.
The company received a $100 million preferred equity investment from True Wind Capital, which will add True Wind founding partner James Greene Jr. and principal Brandon Van Buren as directors to the company’s expanded eight member board.
As previously announced, Zix entered an agreement with a syndicate of banks and SunTrust for a $175 million loan, a $25 million credit facility and $10 million delayed draw term loan facility.
Topics: Financial News, Security
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